Coronado First Bank First Quarter Earnings
(firmenpresse) - CORONADO, CA -- (Marketwire) -- 05/03/12 -- Maria P. Kunac, President and Chief Executive Officer of Coronado First Bank (OTCQB: NADO) (OTCBB: NADO), announced today the bank's earnings for First Quarter 2012.
Based on unaudited financial results for the quarter ended March 31, 2012, Coronado First Bank reported net profit of $244,000 for the quarter after absorbing the majority of the remaining merger related expenses from the Embarcadero Bank and Coronado First Bank merger of 2011. Also during the first quarter, the bank completed its data processing conversion and the branch relocation from its former office on West A Street to 1370 India Street, San Diego.
As of March 31, 2012 total assets were $156.7 million and total deposits were $117.6 million. The bank maintained very strong capital ratios finishing the quarter with a Tier 1 Leverage Capital Ratio of 16.03% and a Total Risk Weighted Capital Ratio of 22.99%.
Maria P. Kunac, President and CEO, stated, "We are very pleased to report these results for our first full quarter after combining the two banks and look forward to strengthening our relationships with existing customers and introducing new customers to our services and personalized products."
Coronado First Bank is publicly traded on the Over-the Counter Bulletin Board (OTCBQ), ticker symbol: "NADO," with total shares outstanding for Coronado First Bank stock of 2,592,695.
This press release may include forward-looking statements that involve inherent risks and uncertainties. Coronado First Bank cautions readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. These factors include economic conditions and competition in the geographic and business areas in which Coronado First Bank operates, inflation, fluctuations in interest rates, legislation and governmental regulation. You should not place undue reliance on forward-looking statements and we undertake no obligation to update those statements whether as a result of changes in underlying factors, new information, future events or otherwise.
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Datum: 03.05.2012 - 18:08 Uhr
Sprache: Deutsch
News-ID 142581
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CORONADO, CA
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Commercial & Investment Banking
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